Algae are diverse eukaryotes microbial organisms that are found in water. They can be grown using sea water and waste water inappropriate for cultivating agricultural crops. These grow by harnessing sunlight through photosynthesis process, and consumption of carbon dioxide and nutrient such as nitrogen and phosphorus present in water. They play a diverse role in the ecosystem, including the foundation of the aquatic food chain by feeding fisheries in the ocean and inland ponds or river as well as removing harmful pollutants from water. Algae along with its species such as red algae, brown algae, and others are used in various applications such as chemicals, food & additives, pharmaceuticals, personal care, and fuel. Microalgae are used as a source of biofuel by extracting and processing their oil. Moreover, microalgae, such as spirulina and chlorella, are consumed as a source of carbohydrate and protein in Asia, America, and Central Africa. At present, the use of algae in food is dominated by capsules sold as a source of essential vitamins and minerals. These capsules containing algal powder are sold as medicine to a wide variety of diseases. Microalgae act as a ponderous fertilizer and can be used to retain atmospheric nitrogen in the soil, which causes an increase in the fertility of soil. Microalgae can be plasticized and integrated into a various range of bioplastics that offer bio-based and bio-degradable property. It is used in the production of polylactic acid (PLA) and polyhydroxyalkanoates (PHA) that are biodegradable and bioactive thermoplastic.
The global algae products market is expected to witness significant growth owing to increase in global population and rise in demand of convenience food product such as pasta, drinks, cakes, bread, gravies, and pastry. In addition, growth in demand for food additive increases the nutritional value of food, which is expected to further boost the growth of the algae products market. Moreover, increase in demand for livestock feed for fish farming coupled with the demand for fish oil is expected to drive the market during the forecast period. However, consumption of algae-based pharmaceutical product causes side effects such as lower blood pressure.
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Moreover, decrease in calcium level in women is expected to hamper the global algae products market during the forecast period. Nevertheless, promotion of algae research and production by the various government all over the globe to reduce carbon footprint is expected to escalate their market growth during the forecast period. In addition, reduction in cost by the development of technology to manufacture biofuel from algae-based species coupled with the production of by-product such as feedstock for animals is further expected to increase the growth of the algae products market during the forecast period.
The global algae products market is segmented based on type, source, form, application, and region. Based on type, the algae product market is classified into spirulina, chlorella, astaxanthin, beta carotene, and hydrocolloids. The global algae products market is classified based on source into brown algae, blue-green algae, red algae, and green algae. By form, the market is bifurcated into solid and liquid. While the application segment comprises of food & beverages, nutraceuticals & dietary supplements, personal care, chemicals, feed, fuel and pharmaceuticals. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report include euglena Co., Ltd., Algae Systems LLC., Cyanotech Corporation, Cargill, Incorporated, Algenol Biofuels Inc., BIOPROCESS ALGAE, LLC, Corbion, Algatechnologies, Cellana Inc., and Earthrise Nutritional.
Key Benefits for Algae Products Market:
This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global algae products market from 2017 to 2025 to identify the prevailing market opportunities.
The key countries in all the major regions are mapped based on their market share.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier?buyer network.
In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global algae products industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Algae Products Market Key Market Segments:
Hydrocolloids (Agar, Alginates, and Carrageenans)
Food & Beverages
Nutraceuticals & Dietary Supplements
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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